In our last piece on the market we said that 2026 and 2027 would keep the market active and prices rising, barring events beyond anyone's control, and so we suggested buying sooner rather than later. If you have decided and are now looking for a home to live in or to buy and let, a reasonable question comes up. If the home is a resale, should you buy one renovated and ready to move into, or one that needs a full renovation?
As with most things, there is no fixed answer in advance. So here is a comparison of the two options, to help you decide what suits your own circumstances.
Buying to renovate: the advantages
- A lower starting price. You save compared with a renovated or new home. According to the statistics, the saving on the purchase is usually between 15% and 40%, or more if the home is in very poor condition. You also save on Transfer Tax, notary and registry costs, which are not small.
- Complete personalisation. You can design the home to measure: the layout, the finishes, the energy efficiency. With a little vision, or good advice from experienced, reliable professionals, you can make the home far more practical, modern and comfortable.
- More room for the value to grow. Done well, the final value can exceed the total cost of purchase plus renovation, usually by 15% to 20% or more. Renovation prices per square metre can range from €400 to €1,200 depending on the quality you choose, and the final value should still stay around that 15–20% margin.
- More choice. There are more homes to renovate than homes ready to move into. They are less attractive on the market, so the chances of finding a very good price multiply.
- Possible grants. There may be subsidies for renovation, depending on the area. There is state and regional help for renovating homes, focused on energy efficiency (insulation), accessibility (bathrooms, windows, solar panels, ramps) and upkeep, with direct grants of 40% to 80% or more and income-tax (IRPF) deductions of 20–60%, both linked to certified energy savings. The EU's Next Generation funds support these programmes locally, so check with your town hall and regional government.
Buying to renovate: the drawbacks
- More money up front. You need an extra budget and time for the work. Using the figures above, a full renovation of a 100 m² home needs at least €40,000, and more if you choose higher-quality materials.
- The unexpected. Hidden problems with installations or structure can raise the cost and the time. Experience shows that budget overruns on full renovations are very common, usually because there was no detailed project, the design changed during the work, hidden items such as licences and fees were left out, structural problems were underestimated, or there was no contingency (at least 10–15%). To avoid it: define the project well, detail the quote as far as possible, sign a clear contract, do not choose on the lowest price alone, and have a good professional manage the surprises.
- Managing the work. The renovation has to be supervised and managed, or you pay professionals to do it. Managing it yourself means a lot of work and the stress that comes with it. Handing it over adds to the budget.
- Living on a building site. It may be impossible to live in the home during the work, so you need somewhere else. Even if you manage to stay, expect around four months, on average, in fairly uncomfortable conditions. A hotel or a rental while the work is done is an extra cost to add to your budget.
A renovated home, ready to move in: the advantages
- Comfort. You move in without worrying about building work or immediate extra costs. You will not get budget surprises, because you can calculate almost exactly what it costs and when you can live there.
- Speed. Ideal if you need to move quickly. If your move cannot wait, for work reasons for example, knowing the exact date you will be living in your new home matters.
- Less disruption. You avoid the stress and inconvenience of building work, the opposite of living in the house while it is being renovated.
A renovated home, ready to move in: the drawbacks
- Less personal. The finishes and layout are already done, which limits your control. You are unlikely to find a renovated home that is exactly to your taste, and if it comes furnished, there is little room left for your own ideas.
- A higher starting price. You pay for the renovation already done, which usually costs more than buying to renovate. Price is not the only factor, but the starting cost is generally higher.
- Quality you did not choose. You depend on the quality of the seller's or builder's work, and there may be lower-quality work hidden behind clean finishes. Because you did not control the process or the materials, it is not unlikely to find what the law calls hidden defects (vicios ocultos): badly done installations or poor materials, which are relatively common in electrics and plumbing.
In short
- Renovating is ideal if you want a design made entirely to measure, you are thinking long term, you want to live in an established area, and you have the budget and time to manage the project.
- Ready to move in is better if you want comfort, no complications, need to move soon and have a higher budget for a home you can live in straight away.
First published in Spanish on 18 June 2026. Figures and rates are as they stood on that date; rules change, so check them for your own case.